Shareholders of French rail giant Alstom overwhelmingly approved the planned merger with Siemens rail operations, leaving the verdict of antitrust authorities as the only remaining hurdle. (Reuters)
Revenues grew 7.2% to €7.1 billion at Hella, a German maker of lights for cars, for a business year that ended in May.
Registrations of new cars in Europe rose 5% in June thanks to more sales days. For the first half of the year, new car sales rose 3% to a record 8.2 million vehicles. (ACEA)
Airbus signed an agreement with an undisclosed customer at the Farnborough Air Show for the sale of 100 aircraft. The list price for the jets is $11.5 billion.
Volkswagen posted record sales in the first half of 2018, with more than 5.5 million vehicles sold worldwide, up 7% from the same period last year.
Specialty chemicals firm Evonik raised its earnings target for 2018 after an unexpectedly profitable second quarter. The group now hopes to post an operating profit of up to €2.65 billion.
The Chinese made 22 corporate purchases in Germany last year, down from 26 in 2016. But the value rocketed to a combined $9.9 billion, thanks to a single megadeal: Geely’s $8.9 billion stake in Daimler.
The number of M&A deals by Chinese companies in Europe dropped by 12% in the first half of 2018 and their combined value halved to $14.9 billion, an EY study found, as rising protectionism discouraged international takeovers.
ThyssenKrupp’s board chairman Ulrich Lehner announced his resignation less than two weeks after the CEO stepped down, as activist investors urge breakup of the conglomerate.